Max Life Insurance Company Ltd. has launched Smart Capital Guarantee Solution, a life insurance product solution that combines three benefits. Merging the benefits of ‘Max Life Smart Wealth Plan’ and ‘Max Life Flexi Wealth Advantage Plan’, the product will offer wealth creation through market-linked returns along with a guarantee on premiums paid at maturity with additional financial protection, the company said.
“As per the latest India Protection Quotient survey, over 46% of consumers prefer financial products as a mix of guaranteed and market-linked instruments. While the consumers want to get the upside of the market-linked products, there is a latent need to ensure the protection of the invested capital, along with additional financial protection. With this insight, we have designed the Smart Capital Guarantee Solution,” said V Viswanand, deputy managing director, Max Life.
Key features of Max Life Smart Capital Guarantee Solution:
- Capital guarantee through maturity benefit of Max Life Smart Wealth Plan; market-linked returns through a part of the premium paid towards the Max Life Flexi Wealth Advantage Plan
- Unique and customised storyboards tailored to meet varied financial needs in the form of lump sum benefits, regular income, or whole-life income benefit
- Flexibility to choose from different premium term payment options
- Comprehensive protection with death-benefits
- Tax benefits under section 80C and Section 10 (10D) of the Income Tax Act 1961*
Merging the benefits of market-linked returns along with guaranteed returns, the Smart Capital Guarantee Solution comprises the following products:
Max Life Smart Wealth Plan (a Non-Linked, Non-Participating, Individual, Life Insurance Savings plan) – A comprehensive life insurance savings product with guaranteed returns, the Plan unifies protection and savings into a simple and flexible solution. Allowing greater flexibility, the Plan offers choice amongst five different variants – three in lump-sum and one each in regular and whole-life income. All five variants come with distinct living benefits depending on the chosen variant and comprehensive life cover depending on their design.
Max Life Flexi Wealth Advantage Plan (a Unit-Linked, Non-Participating, Individual Life Insurance Plan) – A plan designed to maximize wealth creation needs while shielding loved ones financially. The Plan guarantees a return of eligible policy charges, loyalty additions, and power-packed boosters. Furthermore, the Plan allows greater customization with unlimited switches and free-of-cost premium redirection along different stages of the growth journey.
